IndianOil signs MoU with TIDCO for Ennore LNG Project. The 2.5 million tonnes per annum LNG terminal expandable to 5 million tonnes per annum which will cost Rs.3000 Crore approximately. A 1000 MW LNG based Power plant that is likely to cost around Rs.5000 Crore.

NIOC reconsidering LNG production, noting that some LNG projects including those in South Pars gas field phases 13 and 14 have been suspended. Currently gas export via national network is more economical, at disposal and faster while LNG exports need huge investment, complex technology and a long process for production and export.

Reliance Industries further expands Shale position in The United States. Under the proposed transaction, Reliance will acquire a 60% interest in Marcellus Shale acreage in Central and Northeast Pennsylvania that is currently held in a 50?50 joint venture between Carrizo and ACP II Marcellus LLC, an affiliate of Avista Capital Partners. Reliance will pay a total consideration of $392 million. drilling of approximately
1,000 wells over the next 10 years, with a net resource potential of about 3.4 Tcfe (2.0 Tcfe net to Reliance).

Foster Wheeler Wins Feed from E.ON UK plc for CO2 Capture and Compression Plant. E.ON is planning to replace its existing coal-fired units at Kingsnorth Power Station with two new high-efficiency 800 megawatt coal-fired units using the latest supercritical technology, which E.ON has said will produce power from coal more efficiently than ever before in the UK. The planned CO2 capture plant will be designed to separate and capture CO2 from flue gas generated by the new coal-fired units, enabling the CO2 to be transported and stored permanently within a depleted gas reservoir under the North Sea.

MC252 Well Reaches Static Condition; Well Monitoring Underway. The well pressure is now being controlled by the hydrostatic pressure of the drilling mud, which is the desired outcome of the static kill procedure carried out yesterday (US Central time).

Foster Wheeler Awarded Contract for Uruguay's First LNG Receiving Terminal: the "GNL Del Plata" facility to be built in Montevideo, in the region of Río de la Plata, Uruguay. The project will supply natural gas for local consumption in Uruguay (enabling the expansion of this source in the energy mix) and also will supply gas to help meet demand in Argentina.

BP Agrees to Sell Colombian Business to Ecopetrol and Talisman to a consortium of Ecopetrol, Colombia's national oil company (51 per cent), and Talisman of Canada (49 per cent). The two companies will pay BP a total of $1.9 billion in cash, subject to customary post-completion price adjustments. The sale of the Colombian business is part of BP's plan, announced on July 27, to divest up to $30 billion of assets over the next 18 months.